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You have a Will, your spouse inherits everything but you have accounts for Grandchildren. The account is in your name (not joint), POD the Grandchild. Then the Will has nothing to do with this account, is this correct? The Grandchild gets that account?
I'm not sure what kind of account you're referring to that would be under your name, but inherited by your grandchildren. One way to avoid any potential confusion as to who gets the money is to set up accounts for each child under the Uniform Gifts to Minors Act in their names. These are accounts set up and overseen by an adult for the benefit of a child. The adult deposits money for the child to use upon the age of majority. Until the child reaches legal age, the money matures in investment products of your choosing, e.g., stocks, bonds, mutual funds, etc. No one can touch these monies but the child.
You can speak to a financial advisor to get more information about this.
Some assets pass by will and some pass by contract and your Paid On Death account sounds like it passes by contract.
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